HALIFAX – Nova Scotia is writing off $10.6 million in debts at the end of this fiscal year.
The provincial government says about $3.6 million of that were in Department of Economic Development loans to companies and another $2.2 million are unpaid fees to the Health Department for costs including ambulance trips and seniors’ pharmacare.
The single largest loss recorded was approximately $2.2 million deemed to be uncollectable from the bankrupt producer of custom-moulded plastics.
Composite Sea to Sky filed for bankruptcy in May 2011, and the province only managed to collect about $706,000 of the amount it was owed.
The province is also writing off another $651,000 owed to it by Scanwood Canada Ltd., which filed for creditor protection in 2011.
About $2.1 million is being written off for unpaid fines owed to the Justice Department, and the Agriculture Department says about $653,000 in loans to hog and mink farms is not collectible.
The government wrote off $38.4 million in debts the previous year.